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The recent Facebook privacy scandal, in which a political firm acquired the private information of more than 50 million Facebook users, has created a headache for a lot of people. In fact, the Federal Trade Commission (FTC) isinvestigatingFacebook as a result of the scandal. This will have a lot of short-term and long-term implications for companies that collect and use private data, and the users who provide it.

We asked members of theForbesTechnology Councilwhat this investigation might mean for all parties involved. Their answers revealed the potential power of users to advocate for themselves as well as the legal consequences of using personal and private data in certain ways.

1. General Awareness

If humanity has some remaining luck, the Facebook issue will raise the right questions about data privacy to the next level as well as the legal responsibility of services providers. With a myriad of services offerings -- including IoT tracking, online games, cloud AI, and health care services -- the list is almost endless. There’s still little or no practical legislation about responsibility. - Eduardo Capraroli,Automation and Integration Global Security Group

2. More Transparency

This means companies will be more transparent about what they are doing with the data they house and how they use it or share it with anyone. There will be much greater accountability. -Chalmers Brown,Due

3. Data Giants Questioned

Housing private data is one thing. But it's another matter entirely to house private data collected unknowingly or secretly. Alexa, Echo, Facebook Messenger and so many other technologies are built on the backs of personal information -- which, in some cases, has been collected in a questionable manner. Facebook and others may have to rethink these practices and allow users to access, retrieve and reclaim this private data. -Wayne Lonstein,VFT Solutions

4. Paying For Data Usage

Rather than ending the use of personal data, it will be regulated nationally and internationally. Identity is personal property, and the rights of every human are undisputable in these commercial agreements. My hope is that Facebook, Amazon, Netflix and Google (FANG) all support a universal basic income by paying users for their data. -Jeff Bell,LegalShield

5. New Disclosures

Facebook's business model relies on people volunteering information, even if they don't know what the depth and scope of their disclosures could mean if the data were used. As a result of FTC action, I expect services like Facebook to continue with plentiful new disclosures and privacy options for the customer. We can also expect legislative actions around the prompt deletion of data when requested. -Bojan Simic,HYPR Corp.

6. Oversight Of Targeted Customer Data

We are more similar than what we think, and with the advancements in deep learning algorithms, specific patterns are becoming easier to spot and target. The future of personality targeting will include regulatory oversight, with regulators stepping in quickly to protect consumers and ensure that computers don’t make decisions for us. -Carlos Melendez,Wovenware

7. Facilitate Conversations

Seeing Facebook in the news will facilitate conversation around the company's leadership, business practices and what privacy in 2018 really means. While this is all positive, it is up to the public to instigate change. If people leave the platform or demand action, that will compel others to act. The FTC's investigation will only force deeper cloaking for others. Hiding is a lot easier than changing. - Tom Roberto,
Core Technology Solutions

8. Advertising

It will have an immediate impact on income from advertisers. The real impact will come from other businesses that rely on this data as the backbone of their value-add. There are billion-dollar businesses that simply won't function when Facebook starts removing these privileges. -Jere Simpson,KITEWIRE/Steel-Talon

9. Revisiting Expectations

There is a very good chance that Facebook and competing platforms will be restricted by some kind of regulation in the near future. In the specific example of Facebook, FTC involvement could result in new, more strict government regulations over Facebook's private data management policies, as well as expose any current data privacy issues that exist within their platform. Ultimately, how this plays out will encourage us as consumers to collectively revisit how we define our expectations around privacy, exactly what type(s) of data can and should reasonably be considered "private," and how we relate to the many companies that house our personal data. - Shari Buck,Doximity

10. Enforceable Change

Improving privacy standards has been a long overdue measure to be taken by companies and regulators. Protecting the information of businesses and individuals is not just a legal standard but an ethical obligation toward those who entrusted a third party with their invaluable data. The ultimate effect of this decision will ensure this principle is not seen as a mere idea but as enforceable change. - Nick Chandi, SlickPie Accounting Software

Forbes Technology Council is an invitation-only, fee-based organization comprised of elite CIOs, CTOs and technology executives. Find out if you qualify at forbestechcouncil.com. Questions about an article? Email